Mirova Takes a Bet on Spanish EV Charger Company Zunder
Posted on 10/16/2022
French investment manager Mirova (part of Natixis Investment Managers) invested €100 million in a Spanish electric vehicle (EV) charging company called Grupo Easycharger S.L. (Zunder). Mirova will now have a 25% minority equity interest in Zunder, whereas Swiss-based investment firm White Summit Capital and other co-investors will still have majority ownership in the company. White Summit Capital is led by two Spanish financial executives who used to work at Citigroup. White Summit Capital has a presence in London and Madrid.
Mirova has ambitions to contribute to the electrification of the transport market in Europe. Mirova demonstrated it when they invested in major French EV charging market company Driveco. Plus, Zunder has ambitious plans in the European EV charging market. By 2025, Zunder aims to operate over 4,000 charging points and manage over 40,000 points more through its software, which was developed back in 2017.
Advisors
Acron Beka Finance, S.L. and Cuatrecasas advised Mirova, as financial and legal advisors respectively, whereas Zunder was represented by Mediobanca and Uria.
The deal is expected to be closed as soon as White Summit Capital and co-investors approve it. White Summit’s principal Alexandra Chenguelly already welcomed Mirova as their new partner.
